May industrial output up 5.6 vs 6.7 in April
Retail sales rise 3.7 vs 2.3 in April
Manufacturing investment quite healthy on policy push
Major property data worsen despite policy steps

BEIJING, June 17 Reuters China39;s May industrial output lagged expectations and a slowdown in the property sector showed no signs of easing despite policy support, adding pressure on Beijing to shore up growth.

Apart from retail sales that beat forecasts due to a holiday boost, the flurry of data on Monday was largely downbeat, underscoring a bumpy recovery for the world39;s secondlargest economy.

May industrial output grew 5.6 from a year earlier, National Bureau of Statistics NBS data showed, slowing from the 6.7 pace in April and below expectations for a 6.0 increase in a Reuters poll of analysts.

However, retail sales, a gauge of consumption, in May rose 3.7 on year, accelerating from a 2.3 rise in April and marking the quickest growth since February. Analysts had expected a 3.0 expansion due to a fiveday public holiday earlier in the month.

May activity data and our highfrequency trackers for the first half of June suggest significant crosssector divergences remain in the economy strong exports and manufacturing activity, relatively stable consumption, and stilldepressed property activity, Goldman Sachs analysts said in a note.

Fixed asset investment rose 4.0 in the first five months of 2024 from the same period a year earlier, versus expectations for a 4.2 rise. It grew…